• 17:30 BoE Monetary Policy Committee member, Jonathan Haskel, speaks at Ken Dixon Lecture at University of York in London

• 18:00 ECB's Benoit Coeure speaks at the 21st Geneva Conference on the World Economy in Geneva

Currency Summaries

EUR/USD: The euro was little changed against the U.S. dollar on Wednesday, after US administration officials said that U.S. President Donald Trump is expected to delay a decision on tariffs on imported cars and parts by up to six months.A formal announcement is expected by Saturday, the due date for Trump to make a decision on recommendations by the Commerce Department to protect the U.S. auto industry from imports on national security grounds. The euro had weakened earlier on Wednesday as Italy’s Deputy Prime Minister Matteo Salvini criticized European Union rules for the second day.The euro was trading little changed at $1.1203. Immediate resistance can be seen at 1.1243 (50 DMA), an upside break can trigger rise towards 1.1265 (100 DMA).On the downside, immediate support is seen at 1.1197 (50% retracement level), a break below could take the pair towards 1.1177 (38.2% retracement level).

GBP/USD: British pound declined to 3-months low against the dollar on Wednesday, as stronger dollar and Brexit concerns weighed on British pound. May plans to put forward her thrice-rejected Brexit deal in the week beginning June 3, to try to secure an agreement before lawmakers go on summer holiday. But Britain's opposition Labour Party said it would not ratify the deal if a compromise agreement is not reached with the government. Those comments fuelled speculation that May will soon be ousted and pressured the pound. The pound fell to a 3-month low of $1.2839, down 0.48 percent. A stronger dollar also weighed on the British currency. Immediate resistance can be seen at 1.2899 (10 DMA), an upside break can trigger rise towards 1.2971 (May 14th high).On the downside, immediate support is seen at 1.2792 (38.2% retracement level), a break below could take the pair towards 1.2700 (Psychological level).

USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Wednesday, as oil prices rose, while hopes of a resolution to the U.S-China trade dispute boosted Canadian dollar. Oil futures rose as worries that rising tensions in the Middle East could hit global supplies overshadowed an unexpected build in U.S. crude inventories. On the data front, Canada's annual inflation rate edged up to 2.0% in April from 1.9% in March, driven in part by a carbon levy that pushed up gasoline prices in six provinces, Statistics Canada data showed. But two of the Bank of Canada's three measures of core inflation fell. The Canadian dollar was last trading 0.14 percent higher 1.3443 to the greenback. Immediate resistance can be seen at 1.2901 (Psychological Level), an upside break can trigger rise towards 1.2968 (May 14th high).On the downside, immediate support is seen at 1.3424 (38.2% retracement level), a break below could take the pair towards 1.3401 (23.6% retracement level).

USD/JPY: The U.S. dollar was little changed against the yen on Wednesday, as after weak economic data in China raised new concerns about growth in the country. China reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more monetary stimulus as a trade war with the United States escalates. Concerns that the trade dispute between two world's biggest economies could be protracted and impact the global economy have boosted safe haven appeal over the past couple of days. Strong resistance can be seen at 110.04 (Psychological level), an upside break can trigger rise towards 110.29 (9 DMA).On the downside, immediate support is seen at 109.03 (13th May low), a break below could take the pair towards 108.98 (50 % retracement level).

Equities Recap

European stocks surged late in Wednesday's session to wipe away early losses after U.S. officials said President Donald Trump was expected to delay auto tariffs by up to six months.

The UK's benchmark FTSE 100 closed up by 0.7 percent, FTSEurofirst 300 ended the day up by 0.42 percent, Germany's Dax ended up by 0.9 percent, and France’s CAC finished the up by 0.5 percent.

U.S. stocks closed higher on Wednesday as reports that U.S. President Donald Trump would hold off on imposing tariffs on imported cars and parts eased growth concerns even as economic data disappointed investors.

Dow Jones closed up by 0.47 percent, S&P 500 ended up 0.60 percent, Nasdaq finished the day up by 1.14 percent.

Treasuries Recap

Treasury yields fell on Wednesday, with the two-year yield hitting its lowest in 15 months after the United States reported that retail sales and industrial output declined in April, raising expectations the Federal Reserve will cut interest rates this year.

The two-year yield, which is a proxy for market predictions of Fed policy, fell as low as 2.139%, breaking through late-March levels to its lowest since February 2018. It was last down 3.3 basis points at 2.170%.

Commodities Recap

Gold steadied on Wednesday as share markets rose but concerns about global economic growth and the U.S.-China trade fight kept the metal supported near a one-month peak.

Spot gold was steady at $1,296.64 per ounce as of 2:07 p.m. EDT (1807 GMT). U.S. gold futures settled up 0.1% at $1,297.80 an ounce.

Oil futures inched up on Wednesday as the prospect of mounting tensions in the Middle East hitting global supplies overshadowed an unexpected build in U.S. crude inventories.

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